Why This Las Vegas Star Left The Strip To Launch Her Own Business

Unleashing your full potential both personally and financially is
an admirable, though tough goal to reach.

Go Banking Rates’ January Money
Makeover series profiles individuals and
families across the country who have done just this,
accomplishing significant wins in 2012 for a stronger financial
outlook in the New Year.

The last installment of the series shares one mother’s financial
journey to accomplish her entrepreneurial dream, and how others
in her position can do the same.

Lisa Cash Hanson, a former Las Vegas celebrity impersonator and
singer, sought to steady her family’s finances by abandoning her
career as an entertainer to take on a business of her own
creation with the help of cash from the Huggies Mom Inspired
Grant. Along the process, Hanson successfully paid off her auto
loan and established a college savings account for her infant
daughter.

Go Banking Rates: What gave you the courage to transition from
your previous job to being an entrepreneur?

Lisa Cash Hanson: There is an old saying, “necessity is the
mother of invention.” I knew I needed a change and I was going to
make that change happen no matter where it led. When I decided to
create my baby product, the SnuggWugg®, I also began coaching
other entrepreneurs.

I knew that if I stayed where I was, I would never truly reach my
full potential, and the dreams in my heart would die if I didn’t
at least give them a chance to grow.

It’s uncomfortable to step out, especially when you are creating
the ground beneath you, because most entrepreneurs are not sure
exactly where they are headed. There is no perfect road map.

What financial/budgeting adjustments did you make when going from
two incomes to one?

We made a few drastic changes, by some standards. I would call
our bill companies and frequently ask if they had better rates,
better deals or any specials. Many times, they’d say yes and a
few calls saved about $80 to $100 dollars a month.

Hint: They won’t call you if they do [have promotional rates];
you’ll have to seek those out.

Also, we quit TV for quite a few months — we didn’t have paid TV
at all. We didn’t really miss it, since we watched videos
instead. I also did not put a thing on our credit cards; if
we couldn’t pay for it, we didn’t get it. That was very hard,
because you don’t realize how many times you just want to “get
it.”

What tools/resources did you use to balance finances for your
personal expenses, such as paying of your car with the launch of
your business?

I used my online banking system to tell me
when bills were due to avoid unnecessary finance and late
charges. Then we would pay just a little bit extra on the car
each month and that helped.

How did you hear about the Huggies Mom Inspired Grant? How has it
helped your family?

I’m a customer of Huggies. I had heard about it on their website,
but ironically, I was called to go and interview the winners from
last year because of my other award-winning blog,
MompreneurMogul.com. It was then I heard the winners’ stories and
I knew that I would be submitting my own baby product invention,
the SnuggWugg®, very soon.

Two things about that:

I didn’t feel ready. I had a prototype, but I was not sure
what else I would do — I didn’t want to wait. If you want to be a
successful entrepreneur it means jumping in and forgetting your
perfection syndrome. Watchers don’t make money, only
action-takers do.

To have an endorsement for the SnuggWugg®, my diaper changing
baby pillow with smart phone option, from the Huggies Mom
Inspired Grant Program is amazing.

When my product launches later this year I’ll be able to
utilize the Huggies logo on my packaging, creating brand trust
and recognition. That is amazing.

Right now we have a promotion for parents to win a SnuggWugg by
visiting our website, and getting the very first one when we
launch hopefully by April or May of 2013.

Of course the $15,000 seed money Huggies provided was a huge
boost as well and went toward my utility patent and manufacturing
costs. We still have investors contacting us, so there are many
exciting things in the works for SnuggWugg® this upcoming year.

How did you approach negotiations with your utility providers?
What is a common challenge you faced when reducing your
bills/services, and what negotiation strategies would you offer
readers?

It was very easy, actually. I would simply call a company and ask
if they had partnerships with other companies I did business
with, better rates or other ways I could save.

For example, one time there was a knock at the door and that one
visit knocked off about $65 a month. They were from our phone
company, and said I could partner with our paid TV provider at a
special rate.

Some of the challenges occurred when companies said they didn’t
have a discount. I’d have to ask for another manager or someone
who could actually make a better deal for us.

So my negotiation strategies are:

Call your companies at least once a month. Ask for any
specials, discounts or partnerships they may have with other
services you use that may save money.

If you do get charged a late fee on your credit card, call
and ask for it to be removed — oftentimes, they will do it.

Set up alerts so that you know a few days in advance when
bills are due, so you can avoid late fees.

Read all bills carefully. Many times we just blindly send our
money to companies. I’ve seen a $100 charge or more just to call
and find out it was for a protection service I didn’t order, or
some other charge from the company to make a profit. I asked them
to take it off, and they did; if you’re not aware, you could be
paying these fees.

Be bold. You have nothing to lose by asking, so ask and see
what happens.

What was the biggest financial challenge you faced in the
process? How did you overcome it?

The greatest challenge was when week after week there would
only be $30 in the bank account after bills were paid.
That was challenging.

My faith helped me through most of that time, but I also kept
saying to myself again and again, “This will pass. I have
enough money to do everything I ever need.” Of course, I
followed that with responsible actions also.

Why was opening a savings account for your daughter so important
to you?

I don’t want her to be concerned about money when it’s time to go
to school. There are already so many pressures in life, if we can
alleviate just one that may possibly give her a better chance in
life it would be wonderful. Then, she could focus on studying and
working if she’d like, but at least she won’t be struggling and
drowning in debt.

What is the most unexpected financial realization that you’ve
encountered during this achievement?

That bills are here to stay, and fretting about them never paid a
single one. I’ve also discovered that there is always a way to
get things done; it may take a little sacrifice, but there is
always a way. I never say I can’t afford it — I think, “how can I
make it happen?”